One Peak leads $28m investment in Brightflag

The firm is currently investing from One Peak Growth II, which closed on €443m in June 2020. The fund targets minority interests in Europe-based technology companies with plans to expand globally.

Existing investors Sands Capital Ventures and Frontline Ventures also participated in the investment round. Frontline is currently investing from Frontline Ventures Fund II, which closed in February 2017 on €60m and writes tickets of €200,000-3m.

Proceeds from the funding round will be used to expand the company's international footprint while investing in product innovation. Brightflag also intends to hire approximately 60 new employees between its US and global teams over the next year.

Previous funding
In 2014 and 2015, NDRC and Wayra invested in three seed rounds for the company.

Tribal.vc, Enterprise Ireland and 500 Startups invested in a $1.1m funding round for the company in 2016.

Tribal.vc and Frontline joined forces to invest in a €1.5m round in 2017, and Sans Capital Ventures led a €7m round, which saw participation from Frontline and Enterprise Ireland.

Company
Dublin-based Brightflag is a legal spend management and matter management platform that was founded in 2014.

People
One Peak Partners – Humbert de Liedekerke (managing partner).
Brightflag – Ian Nolan (CEO, co-founder).

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